The Invoice for Offshore Wind Energy Is Rising

With offshore wind tasks bleeding money, governments must pay extra to hit their clean-energy targets. Latest auctions present simply how way more.

Greater costs for metal, labor and debt financing have raised the price of growing a wind farm by virtually 40% since 2019. It’s a large downside for builders like Danish vitality firm Ørsted, which signed energy provide agreements a number of years in the past at costs that now not cowl at the moment’s prices.